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AgroPolicy, India, Logistics, Supply Chain, Transportation

More than 50 countries to participate in the Global Maritime Summit, 2023 to be held from 17th to 19th October.

The Union Minister of Ports, Shipping & Waterways and Ayush, Sarbananda Sonowal launched the curtain raiser of Global Maritime India Summit (GIMS), 2023 in Mumbai. The summit is slated for 17th to 19th October 2023, at Pragati Maidan, New Delhi, with FICCI as the exclusive industry partner. The event is aimed at unlocking potential for new investment opportunities along with collaborations for knowledge and technology to enhance cooperation in trade and promote Ease of Doing Business (EODB).

Addressing the Curtain Raiser for the upcoming Global Maritime India Summit 2023, Sonowal emphasised the vital role of the maritime sector in India’s economic progression and the potential it holds for the Asia-Pacific region. “India can lead from the front. India’s maritime sector is poised for growth, owing to proactive government policies around, ports, shipping and inland waterways”, said Sonowal.

The curtain raiser event is aimed at creating a global forum of thought leaders as well as industry captains from maritime sector to harness the immense potential of Blue Economy and draw a roadmap to unlock value through creation of investment opportunities in the maritime sector of India. The forum will provide a platform for start-ups, researchers, incubators and innovators to showcase their technology & expertise. The focus areas of GMIS, 2023 are Ports of the Future; Decarbonization; Coastal Shipping & Inland Waterways Transportation; Shipbuilding, repair & recycling; Finance, Insurance & arbitration; Innovation & technology; Maritime Safety & Security and Maritime Tourism.

The Minister said, “As key driver of India’s maritime sector, our ministry has been organising the Global Maritime India Summit, to create value from the vast potential of India’s rich maritime sector. With an identified investment opportunities of more than Rs 10 lakh crores in the maritime sector of the country, we are standing at a threshold of a major economic upswing which can generate employment opportunities for more than 15 lakhs youth of India. This summit has been designed to explore and examine riches of India’s Blue Economy. We hope that the best minds of maritime sector will hedge their goodwill, intent, intelligence and skills to produce a roadmap for a sustainable development of maritime sector as well as our country.”

 Sonowal further added, “We invite all the maritime stakeholders in India and globally to be part of these investment opportunities. India is actively driving the establishment of 5,000 km of multi-country waterways, a significant initiative that will effectively facilitate trade and transportation across the region.”

The curtain raiser concluded with the unveiling of the official GMIS 2023 brochure and the launch of the event’s website and mobile app to provide a comprehensive overview of the summit’s agenda and thematic sessions and will serve as essential resources for participants.

More than 50 countries to participate in

AgroPolicy, Dairy, Live Stock

The 2-day long symposium was aimed to foster insightful discussions and deliberations on the transformation to more efficient and sustainable agri-food systems, with a particular focus on the livestock sector.

Parshottam Rupala, Union Minister of Fisheries, Animal Husbandry & Dairying inaugurated an International Symposium on Sustainable Livestock Transformation at NDDB, Anand. The Department of Animal Husbandry and Dairying (DAHD), Ministry of Fisheries, Animal Husbandry and Dairying, Govt of India; National Dairy Development Board (NDDB); Food and Agriculture Organisation of the United Nations have jointly organised a 2-day Symposium under the Agriculture Working Group (AWG) of G20.

The 2-day long symposium was aimed to foster insightful discussions and deliberations on the transformation to more efficient and sustainable agri-food systems, with a particular focus on the livestock sector. Distinguished experts, policymakers, and stakeholders from the G20 who participated in the event exchanged knowledge, shared experiences, and explored innovative approaches to ensure the sustainability of the livestock sector.

The symposium was highlighted as a milestone event, driving transformative change in the livestock sector and fostering collaborations for a sustainable future.

The event also witnessed a panel discussion with experts from WOAH- (World Organization for Animal Health), WHO- (World Health Organization), FAO-(Food and Agriculture Organization), IDF-(International Dairy Federation), NDDB-(National Dairy Development Board), and the Department. A technical tour of Amul Dairy & Chocolate Plant, and Mujkuva DCS, where delegates from the G20 countries have given insights into the processing systems, milk collection, and biogas and solar cooperatives of the country.

Alka Upadhyaya, Secretary (DAHD), Govt of India; Dr Meenesh Shah, Chairman, NDDB; Dr Abhijit Mitra, Animal Husbandry Commissioner (AHC), Govt of India; Tiensin Thanawat, Director, Animal Production and Health Division, Food and Agriculture Organisation of the United Nations (FAO); Caroline Emond, Director General, International Dairy Federation (IDF); Dr Ailan Li, Assistant Director General, Healthier Population Division, WHO and other eminent dignitaries graced the occasion. A total of 28 foreign participants from FAO, Kenya Dairy Board, Canada, USA, France, Russia, UK, Australia, Mauritius, Brazil, The Netherlands etc participated.

Union Minister commended NDDB for organising the symposium and emphasised the role of technology in the livestock sector. He said that the Symposium deliberations will help disseminate various innovations in the livestock sector for sustainable transformation.

Alka Upadhyaya, Secretary, DAHD said that sustainable transformation in the livestock sector becomes more relevant considering the quantum of farmers and other stakeholders associated with the sector, its role in providing livelihoods & food security and the prominence of smallholder production systems.

In his welcome address, Dr Meenesh Shah, Chairman, NDDB said that we are looking forward to engaged deliberations amongst experts for making the livestock sector more sustainable and move towards a more efficient, inclusive, resilient and sustainable livestock sector for – ‘Better Production, Better Nutrition, Better Environment and Better Life.’ This symposium will definitely give all of us a good platform to mutually learn from each other, chalk out a strategy and plan to address some of the contemporary challenges that both the developing and developed countries of the world are facing today in the livestock sector, including One Health, climate change and sustainability.

The 2-day long symposium was aimed to

Agrotech, Company News, R&D, World

The NSF grant totalling $275,000 was awarded to Harpe BioHerbicides as a Small Business Innovation Research (SBIR) Phase I project titled, ‘Safe control of herbicide-resistant weeds with a novel natural bioherbicide platform.’ 

Harpe Bioherbicide Solutions, an agricultural technology company focused on providing natural and sustainable herbicide solutions, has recently been awarded a grant from the U.S. National Science Foundation (NSF) which will fund research using its bioherbicide formulations derived from natural plant extracts to control weeds-resistant to synthetic herbicides.

The NSF grant totalling $275,000 was awarded to Harpe BioHerbicides as a Small Business Innovation Research (SBIR) Phase I project titled, ‘Safe control of herbicide-resistant weeds with a novel natural bioherbicide platform.’ Harpe’s portfolio of products, which features new sites and modes of action, offers wide-spectrum control of broadleaf and grass seeds or weeds.

A Harpe Bioherbicide award abstract posted on the NSF website states (Award History Details | NSF SBIR), Widespread adoption of the proposed technology is expected to benefit farmers and crop producers reducing societal strain, financial burden, and environmental stress from crop losses due to herbicide-resistant weeds by eliminating these weeds through an environmentally safe method, without the use of excess fuel, time, equipment, and synthetic herbicides.

“We take great pride in funding deep-technology startups that will shape science and engineering results into meaningful solutions for today and tomorrow,” said Erwin Gianchandani, NSF Assistant Director for Technology, Innovation and Partnerships.

Dr Chad Brommer, Harpe Bioherbicide co-founder and Chief Technology Officer who is the principal investigator on the SBIR Phase 1 project, said, “Harpe Bioherbicide was created to support farmers on a global scale by developing novel and natural herbicide solutions to help mitigate increasing weed resistance challenges while seeking to advance sustainable practices in global food production.”

NSF is an independent federal agency that funds researchers who generate new knowledge and discoveries that provide a greater understanding of the world. Situated at the intersection of all science and engineering disciplines, NSF is uniquely positioned to identify and guide investments toward new, cutting-edge research areas.

The NSF grant totalling $275,000 was awarded to Harpe

Agrotech, Company News, India, Sustainability

The partnership will promote innovation and digitalisation of PMFBY and strengthen risk financing for a resilient farm sector in India

United Nations Development Programme (UNDP) and Absolute Foods, a leading bioscience company specialising in agri-tech, signed a Memorandum of Understanding (MoU) to strengthen the government of India’s flagship Pradhan Mantri Fasal Bima Yojana (PMFBY) and enhance the resilience of the farmers.

The partnership between UNDP India and Absolute Foods aims to enhance the implementation of the PMFBY and the Restructured Weather-Based Crop Insurance Scheme by building technical capabilities of the scheme and digitalising service delivery of crop insurance and agricultural credit processes to increase the reach and uptake of the schemes. It will also promote credit profiling of farmers, agri-entrepreneurs, and Farmer Producers Organisations (FPOs), for accurate crop loss assessment and risk evaluation to mobilise agriculture financing.

UNDP and Absolute Foods will also use advanced technology and data-driven solutions to facilitate farmland identification and enhance farm monitoring, R&D, and analytical capabilities to facilitate data-driven policymaking and fraud analytics, ensuring efficient and transparent delivery of government support to vulnerable farmers.

Speaking on the partnership, Agam Khare, Founder & CEO, of Absolute Foods, says, “There are around 150 million farmers in India. We feel privileged to partner with UNDP India to enhance the risk resilience and protection of the farming community in India. With this collaboration, we are moving one step closer to achieving our goal of empowering farmer communities & making agriculture climate resilient in India.”

UNDP has been working with the Ministry of Agriculture & Family Welfare since 2018. In 2022, UNDP’s technical support unit at the Ministry helped reach out to 1.71 crore farmers through various information, education, and communication (IEC) campaigns such as Crop

Insurance Week and organised more than 2.39 lakh Fasal Bima Pathshalas or crop insurance classroom sessions.

“Risk is an inherent part of agriculture and is one of the biggest roadblocks in improving the lives of farmer communities in India. This collaboration is an important step towards strengthening the risk and credit ecosystem for agriculture in India. UNDP India is committed to working with the government and partners to help farmers in India rise with resilience”, says Amit Kumar, Head, Sustainable and Inclusive Growth, at UNDP India.

The partnership will promote innovation and digitalisation

Biofuel industry, Company News, Sustainability, World

The initiative will harness leading-edge data and analytics to support the development of camelina as a sustainable renewable fuel feedstock

EarthDaily Agro, a division of geospatial analytics company EarthDaily Analytics, has been selected by leading renewable fuel developer Global Clean Energy Holdings, Inc. and its subsidiary Sustainable Oils, Inc. to support the work to increase the adoption of camelina in the renewable fuels marketplace through their Climate-Smart Camelina Project.

The multi-year contract is made possible by a $30 million U.S. Department of Agriculture (USDA) Climate-Smart Commodities Grant, which was awarded to Global Clean Energy for the purposes of developing camelina as an ultra-low carbon renewable fuel feedstock and building associated climate-smart renewable fuels markets. The initial project will focus on the Western U.S., with plans to expand to other regions of the world deemed suitable for camelina production. Because camelina has not historically been a widely cultivated crop, EarthDaily Agro will produce the first full-cycle economic viability and production yield dataset to serve as the basis for mainstream cultivation and renewable fuel production.

“Global Clean Energy and Sustainable Oils are recognised leaders in the expanding renewable fuels industry, and EarthDaily Agro is proud to partner with their innovative mission to bring new solutions to the industry,” said Dave Gebhardt, General Manager of EarthDaily Agro. “By collaborating with EarthDaily Agro, Global Clean Energy and Sustainable Oils join a growing roster of agribusiness leaders harnessing the power of Earth Observation and geospatial analytics to cultivate leading-edge business intelligence.”

“As the renewable fuels industry continues to expand, optimizing the efficiency of our production is critical for meeting growing camelina demand,” said Kevin Monk, Sustainable Oils’ Vice President of Ag Technology. “Geospatial analytics and data processing from EarthDaily Agro equip our company to make informed cultivation and commercialisation decisions to continue advancing camelina as a high-potential, low-carbon renewable fuel feedstock.”

EarthDaily Agro’s satellite-derived, scientific-grade geospatial data provides Global Clean Energy and Sustainable Oils with leading-edge change detection, yield trend modelling, carbon indexing and crop cycle detection. Through the technology, EarthDaily Agro supplies informed guidance to help current camelina growers maximise yields, as well as economic and agronomic feasibility information to increase camelina adoption among additional growers. In 2024, EarthDaily will launch a new Constellation providing enhanced data for vegetation, water, atmosphere and soil to its ag customers such as Global Clean Energy.

“With the ability to grow on otherwise idle acres, camelina can produce renewable fuel feedstock without causing land use change — and worldwide, more than 100 million camelina opportunity acres exist,” Monk said. “This climate-smart fuel alternative has the potential to energize the growing renewable fuels sector, simplify global supply lines for critical commodities like renewable diesel, reinforce domestic energy supply chains, and provide additional revenue for farmers.”

The initiative will harness leading-edge data and

Company News, India, Inputs, Seeds

Pioneer has been developing and characterizing hybrid seeds in key crops including corn, rice, millet, and mustard, while continuing to be one of the country’s leading suppliers

Corteva Agriscience, the global pure-play agriculture company, commemorated the 50-year legacy of Pioneer® Seeds in India at an event in Hyderabad.  Jayesh Ranjan, Principal Secretary, Information Technology, Electronics & Communication Department, Government of Telangana was the chief guest of the event. On this occasion, Corteva congratulated farmers closely associated with Pioneer for decades including woman farmers making a positive contribution to farming. Corteva Pravaktas- the farmer ambassadors were recognised for their continued contributions in transforming agriculture, sharing knowledge and best practices with fellow farmers to enhance yield & productivity.

Corteva started its journey in India with the set-up of Pioneer Seeds in 1972. Pioneer has been developing and characterizing hybrid seeds in key crops including corn, rice, millet, and mustard, while continuing to be one of the country’s leading suppliers. Corteva hybrid varieties help farmers increase yields, maintaining a sustainable supply of food, and increasing food security.

Sharing his thoughts on Pioneer’s enduring legacy brand, Tim Glenn, Executive Vice President, Seed Business Unit of Corteva Agriscience said “Corteva’s success in India is a result of the strength of our seed technology and dedication to farmers. Through our sustainable seed portfolio, we aim to make India a global hub for seed innovation. With increased R&D investments, we will continue to introduce agricultural innovations that will continue to progress farmers productivity and sustainability.”

With the global seed brand Pioneer, Corteva Agriscience is revolutionizing Indian agriculture and bringing tangible results for farmers. These seeds not only help increase overall crop yield but also aid in improving crop productivity, thereby helping increase farmer income and contributing towards the government’s mission to double farmers income.

Corteva has established an R&D facility —Multi-Crop Research Centre (MCRC) — in Telangana. This research facility builds synergies in breeding and breeding technology deployment across key crops like corn, millet, and mustard. This facility serves as a technology hub for the entire Asia Pacific region.

Talking about his vision for the agriculture sector, Jayesh Ranjan, Principal Secretary, Information Technology, Electronics & Communication Department, Government of Telangana, said, “We congratulate Corteva’s Pioneer on completing 50 years in India. The state of Telangana is committed to implementing policies and initiatives that enhances agriculture and provide necessary resources to farmers. Private sector’s participation and contribution is assisting farmers to have better access to latest technology and adopt sustainable practices. We will continue to support such initiatives that drive value addition to boost farmers’ income and enhances the overall agricultural sector. “

“For 50 years, Corteva’s global seed brand Pioneer has enabled millions of farmers to maximize productivity and profitability by infusing technology into agriculture. From the adoption of hybrid seeds, to empowering the use of sustainable solutions in communities, Corteva has been at the forefront of supporting resilience through proven science,” said Ravinder Balain, President – South Asia, Corteva Agriscience.

Pioneer has been developing and characterizing hybrid

AgroPolicy, Award, Nature, Sustainability

This exceptional leaf is exclusively found in the village of Authoor, situated in the Thoothukudi district of Tamil Nadu

The Authoor betel leaves from the Thoothukudi district in Tamil Nadu recently received Geographical Indication (GI) certification. The Tamil Nadu State Agriculture Marketing Board and NABARD Madurai Agribusiness Incubation Forum have awarded it.  

The certificate is granted in the name of Authoor Vattara Vetrilai Vivasayigal Sangam. This GI recognition opens up new avenues for marketing the Authoor betel leaves, enabling the reach in both domestic and international markets, tapping into their marketing potential.

The Authoor betel leaf is utilised during special occasions such as temple festivals, housewarmings, and weddings and possesses a distinctively spicy and pungent flavour.

This exceptional leaf is exclusively found in the village of Authoor, situated in the Thoothukudi district of Tamil Nadu, owing to the utilisation of Thamirabarani River water for irrigation purposes in the local fields.

Cultivated across an extensive area spanning approximately 500 acres of land, encompassing regions like Mukkani, Authoor, Korkai, Suganthalai, Vellakoil, and other Mukkani villages, the Authoor betel leaf showcases elongated stalks and is available in three distinct varieties. These three varieties include nattukodi, karpoori, and pachaikodi.

This exceptional leaf is exclusively found in

Company News, Horticulture, India, Supply Chain, Trade, Vegetables

The partnership aims to expand the availability of premium-quality fresh fruits and vegetables from India to new and existing export markets.

IG International, a family-driven business focused on taking Indian produce to the forefront of global consumer recognition, and The Fresh Connection, a leading exporter of high-quality fresh produce to international markets, are pleased to announce the signing of a joint venture. This partnership aims to expand the availability of premium-quality fresh fruits and vegetables from India to new and existing export markets.

India, renowned for its rich agricultural heritage, is blessed with diverse climatic conditions that favor the cultivation of a wide range of fruits and vegetables. IG International, together with The Fresh Connection, are working together to harness India’s agricultural potential and deliver farm-fresh produce to discerning customers around the world.

This new collaboration builds on the existing trading relationship between IG International and The Fresh Connection and represents an exciting milestone for both as it expands the reach of Indian grown proprietary varieties, across a number of commodities, to an extensive network of customers around the world.

The joint venture will focus on leveraging its combined vertical integration capabilities. Through a combination of IG’s plant sciences expertise, nurseries, exciting varieties of intellectually protected fruit and vegetables, new and efficient storage facilities, and extensive logistics and shipping, with The Fresh Connection’s market-leading export arm and global presence, the venture aims to bring consumers around the world a new experience of what India fruits and vegetables can bring.

Lastly, IG International and The Fresh Connection share a common commitment to promoting sustainable agriculture and reducing food waste. This collaboration will enable Indian farmers to access international markets, providing them with fair trade opportunities and empowering local communities.

Tarun Arora, Director, Single Family Office, IG International, commented, “By joining forces with The Fresh Connection, we aim to connect Indian produce with global consumers, fostering economic growth for our communities, supporting sustainable practices in all we do, and take the perception of “Indian grown” to a whole new level.

Speaking about the joint venture, Hank Miller, CEO of The Fresh Connection, said, “”We are thrilled to partner with IG to bring the bounty of Indian agriculture to consumers around the world. This collaboration combines expertise in cultivating premium-quality produce through complete and complex vertical integration. From plant science and breeding, nursery operations, exciting varieties of fruit and vegetables, new cold storages, and efficient logistics, all flowing into a world class customer base we see this as a very special opportunity.

The partnership aims to expand the availability

Agrotech, Company News, Environment, India, Nature, Start ups, Sustainability

It will positively impact the environment and provide carbon credits to the local communities.

Achieving a significant milestone, CREDUCE, a leading Carbon Credits Origination and Offset solutions provider, has signed an MoU with the Gujarat Ecology Commission, established by the Government of India, for a project-based activity on monitoring mangrove habitat plantation. The strategic partnership is aimed at preserving mangroves and restoring 10,000 hectares of coastal areas in Gujarat.

With 50 per cent of Indian mangroves expected to shift or vanish due to climate change by 2070, this initiative is directed to preserve and expand the mangrove cover. As part of the collaboration, CREDUCE will provide carbon credits development, monitoring, and trading advisory services for the project activities. The company will leverage its expertise and experience in nature-based solutions to ensure the successful execution of this game-changing project. It will positively impact the environment and provide carbon credits to the local communities.

The signing ceremony of the MoU took place in the esteemed presence of distinguished guests, including Minister of Environment, Forests and Climate Change (MOEF), Mulu Bhai Bera, Minister of State Gujarat, Mukesh Patel, Gujarat Ecology Commission Member Secretary, Mahesh Singh, and Principal Secretary of Environment & Forest Department, Gujarat, Shri Sanjeev Kumar IAS, among other dignitaries.

Shailendra Singh Rao, Climateur & Founder CREDUCE, said, “Protecting our biodiversity is our priority, and we are proud to partner with the government towards its initiatives. With the central government adding to Bharat’s success in afforestation by introducing Mangrove Initiative for Shoreline Habitats & Tangible Incomes (MISHTI) to its Budget, the resolve is clear. Forward looking states like Gujarat have taken the first step towards preservation and restoration, and we intend to help such positive initiatives by helping them accrue as many environmental benefits as possible.”

Mahesh Singh, GEC Member Secretary, said, “Gujarat as a state is rich in mangroves cover, which has consistently increased by two and a half folds in the last two decades. We can confidently boast of having the second largest after Sundarbans in Bharat. Buoyed by the Central Government initiatives and a positive political outlook, we are beginning the process of restoration, preservation, and habitat plantation and hope to become the largest in the country.”

It will positively impact the environment and

Company News, Foodgrains, Sustainability, World

This initiative will bring regenerative agriculture practices to over 40 000 hectares of farmland

Nestlé U.S. announced that it is investing to help bring regenerative agriculture practices to wheat farms within its DiGiorno pizza brand supply chain. The company is helping wheat farmers employ regenerative agriculture practices in their fields through a combination of financial support and technical resources and assistance. These practices include planting cover crops, eliminating or reducing tillage, and reducing the use of pesticides, which can help improve soil health and soil fertility, protect water resources and enhance biodiversity.

This initiative will bring regenerative agriculture practices to over 40 000 hectares of farmland – the size of more than 53 000 football fields and nearly double the amount of land needed to grow the wheat used in its DiGiorno pizzas. Through partnerships with ADM and Ardent Mills – two primary wheat flour suppliers for DiGiorno – Nestlé’s investment will benefit wheat farms across Kansas, North Dakota, Indiana and Missouri. The work will help the company accelerate the transition to regenerative agriculture in its supply chains.

“At Nestlé our aim is to help leave the world better than we found it, and as the world’s largest food and beverage company, we have a tremendous opportunity to help create a regenerative, healthy food system while also working with the local farming communities that employ it,” said Steve Presley, CEO, Nestlé Zone North America. “To do this we need to find solutions that create shared value throughout the ecosystem – value for us, value for farmers, value for consumers, and value for the planet. This investment in wheat producers is just one example of how we are bringing this commitment to life across our supply chain.”

ADM recently measured some outcomes of farmers who have implemented regenerative agriculture methods and reported that the wheat farms in the program that used cover crops or living roots in 2022, helped to sequester more than 3 800 metric tonnes of CO2e – that’s equivalent to taking nearly 850 gas-powered cars off the road for one year. Scott Stroberg of Stroberg Farm in Hutchinson, Kansas, who has been growing wheat for ADM over the last decade, has implemented regenerative agriculture practices on his farm, including replacing synthetic fertilizers with natural alternatives, and is now introducing cover crops with the support of ADM and Nestlé.

This initiative will bring regenerative agriculture practices

Agrotech, Company News, Finance, India, Start ups, Trade

 Singapore based Powerhouse Ventures led the round with participation from WEH Ventures, All In Capital, Indian Silicon Valley and angel investors Anant Sarda and Adhish Ladha.

 Hectar Global, a Chennai based B2B cross-border Agri commodity procurement platform, announced today that it has raised US$2.1 Million in seed funding led by Powerhouse Ventures. The round also saw participation from WEH ventures, All In Capital, Indian Silicon Valley, and angel investors Anant Sarda and Adhish Ladha. Founded by National University of Singapore alumni Srinath Srinivasan, Sibhi Kumaran and Aswath Balaji, Hectar Global helps food buyers worldwide to purchase container volumes of Agri commodities with e-commerce level convenience.

With the global Agri commodities trade exceeding US$3 Trillion annually, Hectar Global aims to be at the forefront of the digital transformation in the industry. The company’s platform digitizes complex cross-border supply chain processes, making them more efficient, transparent, and sustainable. It leverages advanced data models and machine learning algorithms to provide real-time market information and actionable insights, helping customers plan their purchases to maximize profits.

 Kshitij Golwalkar, General Partner at Powerhouse Ventures said, “Trading in Agri commodities requires deep domain expertise, given the inherent complexities in product qualities, price fluctuations, documentation, and freight.  We feel that the team’s experience in cross-border trade and their ability to build technology products holds them in good stead to create significant impact in this industry.”

“While we are enamoured by the opportunity, as the market size is obviously large and there is no company effectively leveraging tech yet, our commitment to Hectar was primarily driven by the passion & execution demonstrated by the founding team. We believe there’s a definitive founder-market fit here” added Rohit Krishna, GP at WEH Ventures.

“We have maintained a strong emphasis on operating profitably right from our inception. Our internal accruals have taken care of all operating expenses so far and we are primarily viewing this capital infusion, and future equity rounds, to rapidly expand into new geographies, and strengthening our digital infrastructure.” said Srinath Srinivasan, CEO of Hectar Global.

The company currently has offices in Chennai, Singapore, Dubai, Bangladesh, and Sri Lanka and has shipped over 50,000MTs of Agri commodities to Asia, Middle East and Africa.

 Singapore based Powerhouse Ventures led the round

AgroPolicy, Foodgrains, Pulses, Supply Chain

The introduction of ‘Bharat Dal’ is a major step taken by the Centre Government towards making pulses available to consumers at affordable prices by converting the chana stock of the government into chana dal

Piyush Goyal, Union Minister of Consumer Affairs, Food & Public Distribution, Textiles and Commerce and Industry, launched the sale of subsidised Chana Dal under the brand name ‘Bharat Dal’ at the rate of Rs 60 per kg for one kg pack and Rs 55 per kg for 30 kg pack.

The retail outlets of the National Agricultural Cooperative Marketing Federation (NAFED) in Delhi-NCR are selling the chana dal. The introduction of ‘Bharat Dal’ is a major step taken by the Centre Government towards making pulses available to consumers at affordable prices by converting the chana stock of the government into chana dal.

The milling and packaging of the Chana Dal is undertaken by National Agricultural Cooperative Marketing Federation (NAFED) for distribution through its retail outlets in Delhi-NCR and also through the outlets of NCCF, Kendriya Bhandar and Safal. The chana dal, under this arrangement, is also made available to state governments for supplies under their welfare schemes, police, jails, and also for distribution through their Consumer Cooperative outlets. 

Chana is the most abundantly produced pulse in India and is consumed in several forms all over India.

The introduction of ‘Bharat Dal’ is a

Agrotech, Company News, Environment, Europe, Foodgrains, Sustainability

The new methodology will open a new source of income from the sale of carbon credits.

Geneva based Gold Standard have released a new methodology which will reduce methane emission from rice cultivation. Margaret Kim, CEO of Gold Standard, said, “At Gold Standard our vision is climate security and sustainable development for all. By not only delivering a quantifiable reduction in the emissions of a potent greenhouse gas, but also providing a source of income to farmers this new methodology will bring us closer to that goal.”

Methane is produced when organic matter decomposes in flooded rice fields without access to oxygen. The new methodology will reduce the emission of methane by:

changing the water regime during the cultivation period from continuously to intermittently flooded conditions and/or a shortened period of flooded conditions.

using the alternate wetting and drying method.

adopting aerobic rice cultivation methods;

switching from transplanted to Direct-Seeded Rice (DSR).

As with all Gold Standard methodologies any reductions will be verified by an independent audit before any carbon credits are issued. The new methodology will open a new source of income from the sale of carbon credits. Around 140 million smallholders in Asia who produce most of the world’s rice.

These credits could be used towards corporate ‘beyond value chain mitigation’ targets, to take responsibility for ongoing emissions. Rice is also a commodity purchased by corporations through their value chains. Mitigation outcomes could therefore become reportable towards value chain targets, such as Scope 3. For companies purchasing rice from producers applying the methodology, these outcomes can be incorporated into accounting and reporting, subject to alignment with the Greenhouse Gas Protocol. Further work, through Gold Standard’s AIM Platform will assess the potential for market-based allocation of outcomes in future.

The new methodology is fully IPCC aligned and includes improved monitoring guidelines. It is also applicable to a broader scope of project – large and small-scale or micro-scale projects or PoAs. Put together this means that it is more user friendly than the previous methodology.

This methodology is adapted from the small-scale CDM methodology AMS-III.AU – Methane emission reduction by adjusted water management practice in rice, cultivation – Version 4.0. The CDM methodology is applicable for 30 days from the date of publication of the new methodology.

The methodology has been developed with inputs from the Eurecat Centre Tecnològic de Catalunya, and from the International Rice Research Institute as part of a partnership with the Department of Foreign Affairs and Trade of the Government of Australia through the Business Partnerships Platform.

The new methodology will open a new

Agro chems – Chemicals, Company News, Finance, Middle East countries

Expecting to report a decline in sales that reflect market dynamics of channel destocking.

Israel based ADAMA Ltd., has provided an estimate regarding its financial performance for the first half year of 2023.

Sales

For the first half year of 2023, ADAMA is expecting to report a decline in sales of approximately 14 per cent in USD terms (8 per cent in RMB terms), compared to the first half year of 2022, mainly reflecting lower volumes, as well as the negative impact of exchange rates and prices. The lower sales reflect market dynamics of channel destocking in light of high interest rates and a “wait and see” approach, given the high inventory in the channel and declining active ingredient pricing. Additionally, sales were also impacted by negative weather conditions in certain geographies. This is in comparison to H1 2022, in which the Company achieved record sales reflecting high demand due to supply uncertainty in the market. 

Adjusted EBITDA

In the first half year of 2023, the Company is expecting to report a decrease in adjusted EBITDA and its margin, in comparison to the first half year of 2022. The decrease in adjusted EBITDA is due to the decline in sales, as described above, high-cost inventory, exchange rates and despite a decrease in operating expenses and improvement in the Company’s sales mix of higher margin products. In response to the market conditions the Company has taken certain measures to manage its COGS and OPEX.

Net Loss

In the first half year of 2023, the Company is expecting to report Adjusted & Reported Net Loss, compared to adjusted & reported net income in the first half year of 2022. This is due to lower Operating Profit and an increase in financial expenses in light of higher bank interest expenses due to an increase in short-term loans as well as the sharp increase in interest rates which also impacted hedging costs on exchange rates. These financial expenses were moderated by the lower Israeli CPI. The Company anticipates that once expensive market inventories have been depleted, the overall market dynamics should stabilize.  

Expecting to report a decline in sales